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Income Statement
For the Period Ending June 30
Revenues:
Fees Earned		12,450
Less:
Expenses:
Miscellaneous Expenses	450
Salary Expense	920
Insurance Expense	150
Supplies Expense	980
Depreciation Expnese	500
Rent Expense	1,500
Total Expenses		4,500
Net Income		$ 7,925
Statement of Owners Equity
For the Period Ending June 30
Dustin Larkin, Capital	20,250
Add: Net Income	7,925
Subtotal	28,175
Dustin Larkin, Withdrawals	-4,500
Owners Equity	$ 23,675
Balance Sheet
As of June 30
Assets:
Current Assets
Cash	8,875
Accounts Receivable	3,450
Supplies	1,020
Prepaid Rent	3,000
Prepaid Insurance	1,650	17,995
Non Current Assets
Office Equipment	9,300
Accumulated Depreciation	-500	8,800
Total Assets		26,795
Liabilities:
Current Liabilities
Accounts Payable	1,000
Unearned Fees	2,000
Salary Payable	120	3,120
Owner's Equity		23,675
Total Liabilities & Equity		$ 26,795

Complete the Following rations for Quixote Consulting used in Unis 2 and 3.

CURRENT RATIO

ACID TEST RATIO

INVENTORY TURNOVER

ACCOUNTS RECEIVABLE TURNOVER

DEBT TO TOTAL ASSET RATIO

TIMES-INTEREST-EARNED RATIO

PROFIT MARGIN

ASSET TURNOVER

RETURN ON ASSETS

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